Connecticut leaders are moving ahead with plans to establish a “baby bond” program to provide every child born into poverty in the state with a $3,200 savings account to help close a racial wealth gap.
A tentative agreement reached this week between Gov. Ned Lamont, Treasurer Erick Russell and legislative leaders calls for spending $381 million to create the “first in the nation” Baby Bonds Trust, which would provide eligible newborns with a bond that would grow in value to upwards of $24,000 over time.
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